Tag: Defined contribution
A new bill in the California legislature would offer new state employees a 401(k)-style plan in which their own contributions would be fully matched by the state.
Fidelity has updated its quarterly analysis of the average retirement savings balances across its book of business, and the results are once again quite encouraging.
New Cerulli research shows the most common reason for which 401(k) plan sponsors offer participants a managed account service is that it can be positioned as a retirement income solution; also considered is the emergence of so-called “shadow fiduciaries.”
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This is up from 62% in 2005, Fidelity Investments says.
News emerged Tuesday of a shift in the way Fidelity and Vanguard, two of the largest-volume providers of recordkeeping and investment products for retirement plans, work with and compensate one another—and how certain costs are ultimately charged and disclosed to participants.
More than 82% of those from the Millennial generation, defined here as those born between 1977 and 1993, are now invested in a diversified portfolio.
Plan sponsors are being more conscious and cautious with respect to managing the implications of the DOL fiduciary rule—and this is impacting plan leakage and rollover decisions to a strong degree, Callan says.
Paying down debt and needing cash for day-to-day expenses are top reasons for decreasing plan contributions this year.
Researchers conducted a survey that enabled SPARK to better determine how the RFP Guide is used by advisers and providers today, leading to the new update.
One change in the law means that in many cases, a participant will have more time in which to effect a tax-free rollover of a plan loan offset amount that occurs following termination from employment.
Besides revamping the public website, the participant and plan administration portals have also been enhanced.
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The bill does not impact tax breaks for retirement savings, either by lowering the amount people can contribute or requiring some or all of the money to be invested as a Roth 401(k).
This is up from 34% in 2016.
Research from Cerulli Associates finds plan sponsors must position managed accounts as a service, in order to change its costly product reputation.
Congressional Republicans have successfully pushed a unified version of the Tax Cuts and Jobs Act through the House once, and they may now have to do it again.